BlackRock today reported a jump in assets under management for the second quarter, while JPMorgan Chase and BNY Mellon said their asset totals remained unchanged from the previous quarter.
BlackRock reported $1.43 trillion in assets, up 5% from the first quarter and up 16% from the previous year. Management fees in the second quarter were $1.2 billion, up 4% from the first quarter and 24% a year earlier.
The firm also reported $274 million in second-quarter net income, an increase of 13% from the prior quarter and 23% from the second quarter 2007.
Also, BlackRock today announced it has renewed its global distribution agreement with Merrill Lynch through September 2013, confirmed Brian Beades, BlackRock spokesman. The announcement follows Wednesday’s announcement that Merrill Lynch would not sell its 49% stake in BlackRock.
JPMorgan reported $1.2 trillion in assets, up 7% from the year before. For the latest quarter, the firm reported management fees of $2.1 trillion, up 5% from the first quarter and virtually unchanged from the prior year.
JPMorgan reported net income of $2 billion in the second quarter, down 13% from the first quarter and down 52% from the year prior.
BNY Mellon Asset Management reported $1.1 trillion in assets, up 1% from the first quarter and up 3% from a year ago, according to a BNY Mellon news release. Management fees in the second quarter were $844 billion, up a scant 1% from the first quarter but up 80% from one year ago.
Parent Bank of New York Mellon reported net income of $302 million in the quarter, down 23% from the first quarter and 60% lower than a year ago.
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